TAILIEUCHUNG - Lecture Financial markets and institutions (4/e) – Chapter 10

After studying chapter 10, you should be able to: Understand the sources and types of spontaneous financing, calculate the annual cost of trade credit when trade discounts are forgone, explain what is meant by “stretching payables” and understand its potential drawbacks, describe the various types of negotiated (or external) short-term financing,. | 8- McGraw-Hill/Irwin Chapter Ten Derivative Securities Markets 10- McGraw-Hill/Irwin Derivatives A derivative security is an agreement between two parties to exchange a standard quantity of an asset at a predetermined price at a specific date in the future Derivative securities markets are the markets in which derivative securities trade Derivatives involve the buying and selling (., the transfer of) risk, which results in a positive impact on the economic system Derivatives are used for hedging and for speculation 10- McGraw-Hill/Irwin Derivatives The first wave of modern derivatives were foreign currency futures introduced by the International Monetary Market (IMM) following the Smithsonian Agreements of 1971 and 1973 The second wave of modern derivatives were interest rate futures introduced by the Chicago Board of Trade (CBT) after the Fed started to target nonborrowed reserves in the late 1970s The third wave of modern derivatives occurred in the 1990s with the advent of credit derivatives 10- McGraw-Hill/Irwin Forwards and Futures A spot contract is an agreement to transact involving the immediate exchange of assets and funds A forward contract is a nonstandardized agreement to transact involving the future exchange of a set amount of assets at a set price A futures contract is a standardized exchange traded agreement to transact involving the future exchange of a set amount of assets for a price that is settled daily 10- McGraw-Hill/Irwin Futures Markets Futures contracts are usually traded on organized exchanges Exchanges indemnify counterparties against credit (., default) risk Futures are market to market daily marked to market describes the prices on outstanding futures contracts that are adjusted each day to reflect current futures market conditions The five major . exchanges are the CBOT, CME, NYFE, MACE, and KCBOT The principal regulator of futures markets is the Commodity Futures Trading Commission (CFTC)

• Tài chính doanh nghiệp
• Financial management
• Fundamentals of financial management
• Financing decisions
• Investment decisions
• Role of management
• Financial management function
• Financial statement
• International trade transactions
• Financial statement analysis
• International financial management
• Quản lý tài chính
• Multinational financial management
• Exchange rates
• Financial environments
• Overview of Financial Management and the Financial Environment
• The financial environment
• Forms of business organization
• Determinants of stock pricing
• Financial instruments
• Practical financial management
• Financial background
• Financial statements
• Financial planning
• Financial system
• Financial ratio
• IT financial management
• Setting the scene
• IT financial management maturity
• Parameters influencing IT financial management
• Costs of IT financial management
• More quantifiable benefits
• Overview of roles
• Hospitality financial management
• Hospitality industry management
• Analysis of financial reports
• Analyzing financial statements
• Management decision making
• Foundations of financial management
• Review of accounting
• Financial analysis
• Financial forecasting
• The financing decision
• Financial leverage
• Current asset management
• Paper F7
• Revision kit 2016
• Management Financial
• Financial Management Exam Review
• Review of Financial Management
• Study text 2016
• Lecture Multinational financial management
• International financial reporting standards
• Foreign exchange risk management
• International cash management
• Cash flow analysis
• Centralized cash management
• Intermediate financial management
• Financial options
• Corporate valuation
• Corporate governance
• Financial markets
• Cash flow
• Analysis of financial statements
• Ratio analysis
• Interest rates
• Financial institutions
• Forecasting sales
• Business environment
• Limited liability company
• Common size analysis
• Statement analysis
• Break even analysis
• Break even point